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House prices – China's cities are cooling the real estate market News

Sunday, August 20th, 2017 | Economy

In total, they rose by 9.7 percent in July in the 70 largest cities in the People's Republic, as Reuters calculated on the basis of statistics from the statistics office. The price rise was thus as low as since August 2016 no longer. In Beijing, homeowners in July were slightly more favorable than in the previous month, while prices in Shanghai were stagnating. This indicates that the real estate market is gradually cooling down. The Beijing leadership has launched a series of measures aimed at bringing speculation to a halt.
Many cities are trying to slow the price rise in real estate. The effects are particularly evident in the metropolises. In the smaller centers, many of which also have several million inhabitants, the demand for apartments and houses continues to rise, which also drives prices. "This could turn out to be a trap," warns economist Joe Zhou from Jones Lang LaSalle. The boom will not last long, since the inflow is not strong enough to support the demand.
(Reuters)

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